VanEck Biotech ETF (NASDAQ:BBH) Sees Large Decline in Short Interest

VanEck Biotech ETF (NASDAQ:BBH) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 4,064 shares, a drop of 45.1% from the June 15th total of 7,403 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 6,008 shares, the days-to-cover ratio is currently 0.7 days.

VanEck Biotech ETF Trading Up 0.1%

NASDAQ:BBH opened at $204.17 on Thursday. VanEck Biotech ETF has a one year low of $154.75 and a one year high of $212.54. The firm’s 50 day simple moving average is $192.26 and its 200 day simple moving average is $191.76.

Hedge Funds Weigh In On VanEck Biotech ETF

A number of hedge funds have recently modified their holdings of the business. Ascent Advisors LLC bought a new position in shares of VanEck Biotech ETF during the first quarter worth about $11,178,000. Northwestern Mutual Wealth Management Co. boosted its holdings in VanEck Biotech ETF by 40,463.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 494,061 shares of the company’s stock valued at $93,506,000 after acquiring an additional 492,843 shares during the last quarter. Conservest Capital Advisors Inc. increased its position in VanEck Biotech ETF by 22.9% during the 1st quarter. Conservest Capital Advisors Inc. now owns 20,276 shares of the company’s stock valued at $3,812,000 after purchasing an additional 3,782 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in VanEck Biotech ETF during the 4th quarter valued at approximately $1,079,000. Finally, Corient Private Wealth LLC raised its holdings in VanEck Biotech ETF by 9.6% during the 4th quarter. Corient Private Wealth LLC now owns 5,483 shares of the company’s stock worth $1,041,000 after purchasing an additional 478 shares during the last quarter. Institutional investors and hedge funds own 32.05% of the company’s stock.

VanEck Biotech ETF Company Profile

The BIOTECH HOLDING COMPANY DEPOSITARY RECEIPTS or HOLDRS TRUST was formed under the depositary trust agreement, among The Bank of New York, as trustee, Merrill Lynch, Pierce, Fenner & Smith Incorporated, other depositors and the owners of the Biotech HOLDRS. The trust currently holds shares of common stock or American depositary shares issued by a group of companies that were, at the time of the initial offering, generally considered to be involved in various segments of thebiotechnology industry.